You examine the meaning of value creation and identify
dimensions of value for arts and culture organizations.
You then preview the linkages between financial
management and the ability of organizations to create
value.
Session 2: The Language of Finance
In this session, you rehearse ways to use the integrated
financial concepts and language needed to motivate
and inform boards, staff and donors. You build streamlined
annual financial statements in a group exercise
that frames the types of financial information leaders
need for decision-making.
Session 3: Using Financial Management to Understand
Change - Revenue Drivers
You analyze different sources of cash and examine
the levers available to organizations to affect
revenue in light of a changing internal and external
environment. You then explore the benefits of a
focus on revenue growth relative to margin management.
Session 4: Using Financial Management to Understand
Change – Cost Drivers
You identify complex ways that changes in organization
activities affect its costs. You analyze the management
of controllable costs and compare costs that change
with amount of activity and those expected to simply
decrease over time through organizational learning.
You discuss tools for estimating revenue and costs
in the near future and devising effective strategies
for making longer-term investment decisions. You
investigate the benefits of these resource allocation
tools specifically for arts and culture organizations.
You expand the theory and practice of evidence-based
management, determining how an organization’s
financial systems can provide the data needed to
monitor, control and align the day-to-day activities
of the organization.
Session 3: Communicating Financial Outcomes
You discuss how to get and keep the attention of
stakeholders through understanding what motivates
them, providing appropriate training and making
a clear connection between the mission of the organization
and the numbers coming from its financial system.
Session 4: The Leader’s Financial Agenda
In this session, you work with your team to define
key opportunities and challenges in their current
environment and lessons from the program that can
help address them. The session concludes with a
group discussion in which participants share agenda
ideas.
